MANAMA: Bahrain-based alternative investment fund Investcorp said on Tuesday it had agreed to acquire U.S.-based accessories brand Totes Isotoner Corp in partnership with private equity firm Freeman Spogli & Co.
No terms were disclosed for the purchase from MidOcean Partners and Bruckmann, Rosser, Sherrill & Co.
Investcorp's president for Gulf business, Mohammed al-Shroogi, said the investment would help Totes Isotoner expand both its geographical footprint and its product range.
Cincinnati, Ohio-based Totes Isotoner sells umbrellas, gloves, slippers and other weather-related accessories. (Reuters)